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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>Reverse mortgage transfers not treated as capital transfers, preserving non recognition and loan tax exemption for senior citizens.</h1> Section 47(xvi) treats transfers of capital assets under a reverse mortgage scheme notified by the Central Government as not a transfer for capital gains purposes; it applies where the transferor is an individual and the transferee may be any person, with the capital asset typically being a residential house property. Loan amounts received by a senior citizen under the reverse mortgage are exempt from income tax under the applicable exemption provision.

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